MPSI Releases Optimization Automation to Fuels Pricing Application

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MPSI Releases Optimization Automation to Fuels Pricing Application

01/07/2010

TULSA, Okla. -- MPSI, a leading provider of fuels pricing and site evaluation solutions, introduced a new option for its online PriceIt! Pro fuels pricing system -- the ability to automatically run the optimization model using rules set by the user, the company reported.

The system is designed to help users set the best motor fuel prices for each outlet in their network, and combines daily fuel volumes, users' costs and prices, key competitor prices, consumer price sensitivities and an optimization routine to establish a price position that achieves optimum profit and volume. Now, MPSI can automate the daily functions users currently perform manually within the PriceIt! Pro system, and customers will also receive "customized alerts," to ensure the best, most current data is available in the system each day before the automated optimization runs, the company stated. And users can choose how much or how little they want to automate.

"This automation was developed in response to requests we received from our clients," said Don Spears, Managing Director of Global Pricing for MPSI. "Automating the routine processes our users go through daily should help to promote consistent implementation across the organization."

With the new functionality, the system will automatically alert users and their designees about missing, incomplete or extraordinary data circumstances which can be escalated as needed to ensure all data is in place before the optimization automatically runs, and alerts can also be set up to notify users of pricing anomalies. The framework for the automation has a flexible design that MPSI can readily customize to meet user-specified guidelines, according to the company.